• Most Popular
  • Most Shared

Australian co-op makes solo bid for Dairy Farmers

Sun Aug 10, 2008 9:20pm EDT

Stocks

   

MELBOURNE, Aug 11 (Reuters) - Australian farming cooperative Murray Goulburn has made a solo bid for dairy producer Dairy Farmers after its consortium with Italy's Parmalat (PLT.MI) fell apart last week, a source familiar with the situation said on Monday.

The bid would bring the number of potential bidders for Dairy Farmers to three, restoring competitive tension to a sale that is expected to fetch A$800 million-A$1 billion ($700-$885 million).

National Foods, an Australian food producer owned by Japan's Kirin Holdings (2503.T), is the only confirmed bidder for Dairy Farmers. Media reports have said Canadian dairy products company Saputo (SAP.TO) has also bid.

Murray Goulburn is the largest processor of milk in Australia, processing around 35 percent. Dairy Farmers, which is owned by 2,000 farmers, makes Dairy Farmers brand milk, Coon cheese and Ski yoghurt.

Dairy Farmers declined to comment, while Murray Goulburn was not immediately available for comment. ($1=A$1.13) (Reporting by Victoria Thieberger)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets